South Florida Home Sellers Reap Average Profit

South Florida Home Sellers Reap Average Profit

South Florida home sellers reap average profit of almost $78,000

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In another sign that South Florida’s housing market is bouncing back, home sellers cashed in an average gain of $77,900 during the second quarter of 2017.

That’s according to ATTOM Data Solutions. Seller profits topped $100,000 during the peak of the real estate bubble, then plunged to an average loss of $100,000 during the crash.

Nationally, the average gain was $51,000, an average return of 26 percent on the previous purchase price of the home.

Despite a strong incentive to sell, American homeowners are staying put. ATTOM Data Solutions says homeowners who sold in the second quarter had owned for an average of 8.05 years, up from 7.85 years in the previous quarter and the longest tenure dating back to at least 2000.

The heftiest gain came in Silicon Valley, where sellers pocketed an average profit of $410,000.Soi

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